In the era of technology, the winner is the one who adapts faster. Thus, clients are moving their programmatic ad buying in house, as well as looking for media services in big consultancy firms such as Accenture. This results in a need for tech knowledge in ad media agencies who are facing challenges to remain relevant. Learn how Portada Council System’s leading brand marketers and agency executives offer solutions to better adapt to an increasingly demanding technological landscape.
- About 30% of marketers were unsatisfied with their agency model in 2018. (Movidiam)
- Nearly 80% of the brands that are members of the U.S. Association of National Advertisers (ANA) have some form of in-house agency, almost double since 2008. (ANA)
In 2019, the purchase of creative ad agency Droga5 by Accenture meant adding a creative muscle not normally associated with giant consulting firms. Additionally, WPP announced that it would not participate in pitches audited by Accenture.
Check out the previous Brand Marketer Challenge here: Social Media’s Evolving Role, 4 Opportunities for Travel and Lifestyle Marketers
Three Tech-Knowledge Challenges According to Portada Council System Members
1. Focusing on Digital Lower-Funnel Can Hurt Traditional Brand Buiding
Related comment: “Consultancies and MarTech companies are mostly involved with lower-funnel conversion, but what happens if nothing comes in the lower funnel? Focus on digital to the exclusion of traditional media which may have a more brand building, higher-funnel role in messaging.”
This is just another fad in the industry. Media agencies have a much more unified approach to marketing and media than consultancies.
2. Finding the Right Talent Isn’t Easy
Related comment: “One way to boost talent and knowledge is by encouraging companies to move from vertical structures to demand cells (sales, marketing, supply, development, etc) so that they can evolve to multifunctional teams instead of verticalities.”
There’s too much technology, too many tools that no one knows how to handle.
3. Leadership is Too Far Above
Related comment: “Managers often give instructions from corporate without much real knowledge of the market.”
Many times, senior executives at agencies have a lot of theoretical knowledge they haven’t really put in practice.
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Two Tech Knowledge Opportunities identified by Portada Council System Members
1. Agencies Have Often More Cultural Knowledge than MarTech Companies
Related comment: “Firms with no cultural knowledge can affect messaging to multicultural segments. There is a need for cultural identifiers.”
Brands that market ‘in culture’ are more successful. Consultancies are often not able to take this into account.
2. Advertisers Have the Opportunity to Influence Talent Selection
Related comment: “Some clients are more prepared than the agency ‘experts'”
Practical example: A famous multinational company changed to a new agency and made sure to be able to influence payrolls, positions, objectives, etc.
It’s not about tecnology, but about knowledge.